The takeovers code doesn’t apply when a court makes an order under section 236(1) that changes the voting rights of a code company. This means that if a court decides to change how voting works in a company, the usual rules about taking over companies don’t apply to that situation. You don’t need to worry about the takeovers code in these cases because the court has already made a special decision about the company’s voting rights.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6183129.
The takeovers code does not apply where the court has made an order under section 236(1) that affects the voting rights of a code company.
